The main objective of the project is to store the data on an unalterable and secure platform.
IBM recently announced that it is working with the Government of Bangladesh to modernize the digital pension system for primary school teachers in that country. This modernization will be done through a system based on Distributed Ledger Technology (DLT).
The proof of concept will be an authorized network in which the government will upload the information on pensions. Blockchain technology will help prevent the information on this platform from being altered or manipulated. In this way, the aim is to guarantee sufficient security for teachers who participate in the GBB electronic pension system.
Local media reported that IBM also works with the Bangladesh Computer Council (BCC), a Bangladesh government body that oversees information technology policy in the country. With this association, the government seeks to develop the project successfully and taking into account legal issues.
Until now, the developers of the project expect the IBM blockchain platform to host the live version of the digital pension infrastructure, as local media recently detailed as well.
About the Benefits of the Project
Parthapratim Deb, Executive Director of the BCC, believes that this blockchain platform will increase confidence in the digital pension system, as it will ensure that payments are based on authentic information.
Besides, the executive noted that this pilot project will cause the Government of Bangladesh to seek to develop more initiatives related to blockchain technology.
“We believe blockchain will increase confidence in the e-pension system by ensuring that payouts are based on accurate and authentic information,” Parthapratim Deb said.
About the initiatives that this project could inspire, he commented: “Its success will likely encourage other agencies to explore applications for our core blockchain platform, furthering BCC’s mission of transforming governmental digital services.”
Promoters representingthe Bangladesh National Digital Architecture teamwere the ones who proposed the pilot project. Meanwhile, BNDA previously built an e-governance framework to standardize digital service delivery across all government agencies in Bangladesh. In this way, the country began to prepare for the adoption of new technologies such as blockchain.
Bangladesh Expands Blockchain Adoption
In the past 12 months, IBM has worked on different blockchain initiatives in Bangladesh, in collaboration with both public and private entities. In this way, they seek to modernize many important systems for the organization of the society in that country.
For instance, in December IBM collaborated with local company IPDC Finance Limited to launch the country’s first supply chain financing platform based on Distributed Ledger Technology (DLT), Orjon.
Three months earlier, the country’s Ministry of Information Technology selected IBM as a technology partner to establish a digital technology research center inthe capital of Bangladeshi, Dhaka.
The main objective of this center is to accelerate innovation in cutting-edge technologies, such as blockchain, Artificial Intelligence (AI), and large data management platforms to make processes faster and safer for users and companies. The country continues walking towards innovation and blockchain adoption.
By María Rodríguez